December 20, 2011

The Journal of Commerce and PIERS, a comprehensive database of U.S. waterborne trade activity, have revised their joint forecast for containerized imports into the United States in 2012 downward to 2.8% in year-over-year growth. Their earlier forecast was a gain of 4.7%.

Economist Mario Moreno said the downward revision was the result of the slow U.S. economic recovery, particularly the poor employment market and persistent depressed figures in the housing market.